1.    There is hereby created a cash bond fund for the plugging of abandoned oil and gas wells and the reclamation of abandoned oil and gas well sites.

Terms Used In North Dakota Code 38-08-04.11

  • following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49

2.    From all moneys held or controlled by the commission under paragraph 4 of subdivision a of subsection 1 of section 38-08-04, there is to be deposited in the cash bond fund such amount as determined by the commission but such amount may not exceed an amount equal to an annual return of two percent of the cash bond deposit.

3.    Moneys in the cash bond fund are hereby appropriated to the commission to be used for the following purposes:

a.    Defraying costs incurred in the plugging of abandoned oil and gas wells, and related activities.

     b.    Defraying costs incurred in the reclamation of abandoned oil and gas drilling and production sites, saltwater disposal pits, drilling fluid pits, and access roads, and related activities.

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